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Apple Pay is set to debut in Taiwan in May

1 cover Apple Pay

With Apple Pay growing leaps and bounds in S. Korea after its release, Apple's next target for Apple Pay is Taiwan. According to a Taiwan's United Daily News, the Taiwan University announced yesterday that it will join hands with Taipei Fubon Bank to introduce Apple's "Tap to Pay on iPhone Card" service in May. Merchants will only need to download the "TapPay Receipt Bar" App, and install the iPhone XS or subsequent models with iOS 16.4 or later, to receive payments quickly and safely.

Contactless electronic payments have become popular amid the pandemic. According to statistics from the Financial Supervisory Commission, in January this year, the number of electronic payment users exceeded 22.34 million, and the transaction amount was nearly 12 billion yuan, an annual growth rate of more than 50%. On average, each person in Taiwan has about one electronic payment account app on their mobile phone.

Taiwan University stated that it will join hands with Taipei Fubon Bank to introduce this service in May, and first open up the consumer experience in Taipei's Wenchuang and Sanchuang stores.

Work is underway to bring the service to assist small and medium-sized stores in the digital transformation, greatly reducing the threshold for small and medium-sized enterprises or micro-enterprises to obtain credit card merchant qualifications and card swiping machines, so that small and medium-sized stores can accept consumers' card payments using iPhones, increasing more Multiple business opportunities and revenue.

10.0F - Apple News


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